Citibank Taiwan Ltd (台灣花旗) last week won Best Investment Bank in Asiamoney’s Best Bank Awards for Taiwan.
Citibank also won Best International Bank in Taiwan and Best International Investment Bank in Taiwan in the FinanceAsia Country Awards in late May.
It is the 26th consecutive year Citi won the Best International Bank award from FinanceAsia, and the second consecutive year it has received Best International Investment Bank in Taiwan.
Photo courtesy of Citibank Taiwan Ltd
Asiamoney said that Citi is the top choice in Taiwan for clients seeking advice on equity capital markets (ECM), debt capital markets (DCM) or mergers and acquisitions (M&A).
Citibank Taiwan president Christie Chang (張聖心), who is chairwoman of Citi’s Asia-Pacific corporate banking unit, said that last year was one of the bank’s best years.
“Citibank Taiwan had one of its best years in our institutional business last year. We performed well on fixed income, foreign exchange, ECM, DCM, M&A and strategic event-driven markets,” Chang said.
“During the COVID-19 pandemic, Citi’s investment banking business maintained strong momentum. With Citi’s global network and resources, Citibank Taiwan provides its industrial customers strategic wealth advice for their global arrangements and assists customers, including many large leading companies, to collect funds from Taiwan and global capital markets,” she added.
Financial markets firm Dealogic said that Citi is the only financial institution ranked among the top three foreign investment banks in Taiwan for ECM, DCM and M&A from April last year to March.
FinanceAsia awarded Citi the Best International Bank in Taiwan for the 26th consecutive year because of its overall performance.
With pretax earnings of NT$6.2 billion (US$207.25 million) last year, Citi Taiwan is the most profitable international bank in Taiwan.
Citibank Taiwan chairman Paulus Mok (莫兆鴻) said that “last year, Citi continued focusing on corporate clients, and supported Taiwan corporate clients to expand their footprint for growing business and facing the challenges posed by disruptions in supply chains.”
“Citi also provided digital solutions for its clients to speed up digital transformation, and supported customers in facing fast-changing developments after the pandemic, as well as to meet their financial demands,” he said.
“In addition, Citi still holds the leading position on securities services, and is still the largest custodian bank in Taiwan. Even though Citi sold its customer banking business in Taiwan to DBS as part of a group strategy, Citi still maintains its tenacity and activity, keeps high standards for risk control and corporate governance for growing business, and continues providing quality service to its customers,” he added.
Regarding the increasingly serious challenge of climate change, Mok said that Citi has long been concerned about environmental issues, and has been helping companies accelerate their transition to a low-carbon economy by leveraging its core financial influence.
In Taiwan, Citi practices sustainable finance and has established internal environmental and social risk management policies to ensure that a certain amount of loans granted are used in areas of environmental protection and sustainable operation.
In addition to compiling its own third party-verified environmental, social and corporate governance (ESG) report, Citibank Taiwan has established an ESG task force to further integrate ESG into the company’s strategic development, business and operations, and to work with employees, communities, nonprofit organizations and other groups to advocate and support important issues such as low-carbon sustainability, gender equality, youth employment and food safety to contribute to the advancement and sustainable development of Taiwanese society.
In addition to the accolades received by FinanceAsia and Asiamoney, the bank was last year recognized by many domestic and international specialist publications.
At the end of last year, Citi was given a Triple A rating by The Asset magazine, which named it Best International Bank in Taiwan for the 19th consecutive year as well as Best Corporate Finance and Institutional Bank and Best M&A Bank in Taiwan.
In terms of social corporate responsibility, the company was also recognized by CommonWealth Magazine’s Excellence in Corporate Social Responsibility Award and Excellence magazine’s Best Corporate Social Responsibility Award last year.
DIVIDED VIEWS: Although the Fed agreed on holding rates steady, some officials see no rate cuts for this year, while 10 policymakers foresee two or more cuts There are a lot of unknowns about the outlook for the economy and interest rates, but US Federal Reserve Chair Jerome Powell signaled at least one thing seems certain: Higher prices are coming. Fed policymakers voted unanimously to hold interest rates steady at a range of 4.25 percent to 4.50 percent for a fourth straight meeting on Wednesday, as they await clarity on whether tariffs would leave a one-time or more lasting mark on inflation. Powell said it is still unclear how much of the bill would fall on the shoulders of consumers, but he expects to learn more about tariffs
NOT JUSTIFIED: The bank’s governor said there would only be a rate cut if inflation falls below 1.5% and economic conditions deteriorate, which have not been detected The central bank yesterday kept its key interest rates unchanged for a fifth consecutive quarter, aligning with market expectations, while slightly lowering its inflation outlook amid signs of cooling price pressures. The move came after the US Federal Reserve held rates steady overnight, despite pressure from US President Donald Trump to cut borrowing costs. Central bank board members unanimously voted to maintain the discount rate at 2 percent, the secured loan rate at 2.375 percent and the overnight lending rate at 4.25 percent. “We consider the policy decision appropriate, although it suggests tightening leaning after factoring in slackening inflation and stable GDP growth,”
Greek tourism student Katerina quit within a month of starting work at a five-star hotel in Halkidiki, one of the country’s top destinations, because she said conditions were so dire. Beyond the bad pay, the 22-year-old said that her working and living conditions were “miserable and unacceptable.” Millions holiday in Greece every year, but its vital tourism industry is finding it harder and harder to recruit Greeks to look after them. “I was asked to work in any department of the hotel where there was a need, from service to cleaning,” said Katerina, a tourism and marketing student, who would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01
RSS